HONG KONG, July 23 China shares finished little
changed on Wednesday, a day when five companies began accepting
subscriptions for initial public offerings (IPOs), diverting
some funds from existing stocks.
The Shanghai Composite Index ended a choppy session
up 0.1 percent at 2,078.49 points, its highest since June 16.
The CSI300 of the leading Shanghai and Shenzhen
A-share listings inched up 0.2 percent to close at a more than
The ChiNext Composite Index, China's Nasdaq-like
board for high-growth, mainly high-tech start-up firms, was hard
hit by the IPO subscriptions, sinking 2.8 percent - its biggest
one-day drop in over a month.
Brokerage firms outperformed after posting or flagging good
first-half profits, driven by the resumption of IPOs and
expansion into more areas of business.
The two largest listed players - CITIC Securities
and Haitong Securities climbed 1 and 2.3
Insurers were also index boosts. New China Life Insurance
gained 4.0 percent and Ping An Insurance Group Co of
China 2.1 percent.
(Reporting by Grace Li; Editing by Richard Borsuk)